Sebi launches full-fledged probe into Bombay Dyeing deal
Mumbai: The market regulator, Securities and Exchange Board of India, (Sebi) has launched a full-fledged probe into the acquisition of shares of Bombay Dyeing by Arun Kumar Bajoria.

The regulator is understood to have sought information about the transaction from all the major stock exchanges. The regulator is also ready to issue a showcause notice to Mr. Bajoria, if he does not respond to its earlier query asking him to explain the whole transaction.
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It is ITC picking up East India shares
New Delhi: The media reports that another predator has been on the prowl picking up shares of East India Hotels, owners of the Oberoi group of hotels, have received clarifications.

The two investment companies - New Deal Investments and Peninsula Investments - which have been cornering the shares, are said to be subsidiaries of the cigarette giant, ITC Limited, itself a major player in the hospitality industry.

ITC Ltd clarified that the two companies had bought the shares as part of their normal treasury operations and that the company had also informed EIH as required by the Securities and Exchange Board of India takeover code.

Clarifying its stand on the whole issue, ITC chairman, Mr. YC Deveshwar, stated that the company had no intention of any hostile takeover operation. He categorically stated that the two investment companies, which had temporary surplus investible funds, had picked up the EIH shares as part of their normal treasury operations.

While the Oberoi management has not commented on the issue, it is understood from company insiders that the management is not perturbed and views this as nothing more than an investment.
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